XRP Price Prediction: $9 or $24? Bullish Cross Hints at Massive Rally
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A bullish crossover of XRP's 21 EMA and 55 SMA weekly indicators has triggered excitement among analysts, reminiscent of historical patterns that preceded significant price surges. Egrag Crypto's analysis on X (formerly Twitter) reveals that past instances of this crossover resulted in massive rallies: a 40,000% increase in 2017 and a 750% pump in 2020. The latest crossover, occurring in October 2024, has already seen a 560% rise from September 2024 lows. Based on this, Egrag projects two potential targets: a 1,500% rally to $9, or a more optimistic 4,000% surge reaching $24. However, a temporary April 2023 pump was excluded from this model. After hitting a recent high of $3.65 on July 18, XRP experienced a correction, testing the $3 support level. Analyst CasiTrades supports this bullish outlook, citing an Elliott Wave count suggesting the start of a major third wave. CasiTrades' analysis shows XRP completing a subwave 2 correction, bouncing from the 0.854 Fibonacci retracement level. The price holding above $3 is considered a new price floor. If buying volume increases and XRP surpasses $3.21, the next target is $3.82, aligning with a 2.618 Fibonacci extension and a historical all-time high. A weekly candle close above $3.82 could significantly bolster Egrag's projections. Currently, XRP trades around $3.17.
(Source: https://www.newsbtc.com/altcoin/xrp-bullish-cross-playing-out-again-9-or-24-next/)
